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A cash book had a opening balance of N15,200, closing balance of N18,400 and total...

Accounts - Principles of Accounts
JAMB 2018

A cash book had a opening balance of N15,200, closing balance of N18,400 and total cash received during the period of N36,000. What was the amount of cash paid out during the same period?

  • A. N29,200
  • B. N17,800
  • C. N32,800
  • D. N19,600
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Correct Answer: Option C
Explanation

opening balance= N15,200

cash receipt = N36,000

closing balance= N18,400

N15,200 + N36,000 = N51,200

N51,200 - N18,400 = N32,800 (cash paid out)


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free